Ethereum market latest trend analysis

Currently, the price of Ethereum is in a consolidation phase. Yesterday, the market failed to achieve the expected breakout, with prices attempting to find support at the middle line of the Bollinger Bands. On the technical side, a bullish engulfing pattern has appeared, and the MACD shows a golden cross trend, suggesting a possible rebound in the short term. However, trading volume has significantly decreased, and the RSI indicator is in a neutral zone, indicating insufficient market momentum. To break the resistance level of 2680, it is essential to pay attention to whether there is sufficient capital inflow to support it.

Technical Indicators Explained:
- MACD Indicator: The DIF line is approaching to cross above the DEA line, the red histogram, although not strong, shows a growing trend, indicating that the market may exhibit a short-term upward oscillation.
- Trading Volume Analysis: Recent trading activity continues to decline, indicating that investors generally hold a wait-and-see attitude.
- RSI Indicator: Fluctuating in the middle position, direction unclear, approaching the oversold area but no obvious divergence signal has appeared yet.
- Bollinger Band Pattern: The price is consolidating near the middle band, the bandwidth is narrowing, market volatility is decreasing, and it may soon choose a direction to break out.

Operation strategy reference:
Consider long positioning in the range of 2480-2450.
Set the stop-loss position below 2430.
Focus on the target price range of 2550-2600.